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Almonty announces the filing of Valtreixal project NI 43-101 technical report dated September 30, 2014
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About this update from Almonty Industries Inc.
[{"type":"text","content":"\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/ \n\n\n\nTORONTO, Oct. 24, 2014 /CNW/ - Almonty Industries Inc. (\"Almonty\" or the \"Company\") (TSX-V: AII) today announced the filing of a National Instrument 43-101 technical report for the Valtreixal tin-tungsten project located in north western Spain.  Almonty has an option to acquire a 100% ownership interest in the Valtreixal tin-tungsten project. \n\nThe complete report was filed on SEDAR (www.sedar.com) under Almonty's company profile and will also be available on the Company's website. \n\nThe summarized table of inferred resources as follows: \n\nNI 43-101 Mineral Reserves/Resources of the Valtreixal tin-tungsten Project (as at Aug 31, 2014) \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nTonnes \n\n(000's) \n\n\n\n\nSn \n\n(%) \n\n\n\n\nWO3 \n\n(%) \n\n\n\n\n\nWO3 \n\nEquivalent(%) \n\n\n\nInferred \n\n\n\n\n\n\n7,410\n\n\n\n\n0.12\n\n\n\n\n0.20\n\n\n\n\n0.27\n\n\n\n\nCut-off applied of 0.10%WO3_EqWO3_Eq = WO3 + (Sn x 0.63), based on metal prices:WO3 $37,000/tSn $23,150/tMaximum extrapolation = 50m; Density assumed = 2.9 t/m3 \n\n\n\nNo Mineral Reserves have been determined in the current study, as the resources have all been assigned an Inferred resource category. \n\nLewis Black, Chief Executive Officer of Almonty commented, \"As our understanding of Valtreixal continues to grow, so does our confidence in the project. We have taken a conservative view of the potential of the Valtreixal project and believe that, when the current drilling campaign concludes in the spring of 2015, we will be well positioned to proceed to the permitting/construction stage. We will have more to report at that time.\" \n\nQualified Person \n\nThe mineral reserve and mineral resource estimates and the updated technical report that form the basis for this press release were prepared by Adam Wheeler, an independent mining consultant.  Mr. Wheeler is an independent qualified person for the purposes of National Instrument 43-101.\" \n\nAbout Almonty \n\nThe principal business of Toronto, Canada based Almonty Industries Inc. (TSX-V: AII) is the mining, processing and shipping of tungsten concentrate from its Los Santos Mine in western Spain and its Wolfram Camp Mine in north Queensland, Australia. The Lo...